On an active day this past week we saw double the normal amount of options activity in VanEck Vectors Semiconductor ETF (SMH). SMH is a popular gauge of the semiconductor market and also generally is actively traded by options traders. It appears someone rolled a massive in-the-money covered call in SMH, from May to August.
This could be a neutral to bullish indicator due to the logjam in the chip industry getting sorted out over the next few months. 10,000 options were traded against 1 million shares with over $23 million collected in premium from the August calls.